ICSE Class X Commercial Applications 2018 Solved Papers
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Question : 12
Total: 33
What is a Bank Draft?
Solution:
A bank draft is a type of cheque drawn by a bank either on its own branch or on another bank in favour of a third party. It is payable to the person named in it or to his order. It is always payable on demand and is, therefore, also known as 'demand draft'. It is the most convenient and safe means of sending money from one place to another.
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